08.31.20
DOL Fiduciary Rule Hearings to Be Held on Quick Timeline With Limited Testimony
by: Melanie Waddell
The upcoming early September hearings on the Labor Department’s fiduciary prohibited transaction exemption will differ from those held for the now-defunct Obama-era fiduciary rule. After declining to hold hearings, Labor reversed its position on Aug. 21, stating that it would hold hearings on its fiduciary rule on Sept. 3 and, if necessary, Sept. 4. The Trump administration hearing notice was published in the Federal Register on Tuesday, less than two weeks before the hearing, and provides less than a week to submit requests to testify. The Trump administration is also limiting testimony to those who submitted a comment or requested a hearing.
Read the full article on Think Advisor.